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Morgage protection & ASU Cover
Attempt_1000
Posts: 5 Forumite
Hi All,
Hopefully someone can clarify this for me.
I have read on this forum that you can only have one ASU policy, as the policy holders seem to reducing the amount to £1000 a month, this is not enough to cover my mortgage and outgoings, bills etc.
Does a Mortgage protection policy taken out with the Mortgage ledor count as the same type of policy as an ASU or can they in fact run side by side with each other?
Thanks
Kevin
Hopefully someone can clarify this for me.
I have read on this forum that you can only have one ASU policy, as the policy holders seem to reducing the amount to £1000 a month, this is not enough to cover my mortgage and outgoings, bills etc.
Does a Mortgage protection policy taken out with the Mortgage ledor count as the same type of policy as an ASU or can they in fact run side by side with each other?
Thanks
Kevin
0
Comments
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A mortgage protection policy doent have to come from the lender. As long as it is classified as mortgage payment protection and has no more than the mortgage payment and associated bills then it does not go toward the Govt set limit on how much protection you have. So, on top of that you could have another permanent health insurance or budget payment protection up to the Govt set limit.Does a Mortgage protection policy taken out with the Mortgage ledor count as the same type of policy as an ASU or can they in fact run side by side with each other?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Hi Dunstonh,
Thanks for that, sounds like the way to go
Regards,
Kevin0
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